Tower Bridge Advisors Buys 1,296 Shares of Pfizer Inc. (NYSE:PFE)

Tower Bridge Advisors grew its position in shares of Pfizer Inc. (NYSE:PFE) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,997 shares of the biopharmaceutical company’s stock after purchasing an additional 1,296 shares during the quarter. Tower Bridge Advisors’ holdings in Pfizer were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Swedbank AB lifted its stake in shares of Pfizer by 0.7% in the 3rd quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after purchasing an additional 37,636 shares during the period. Financial Advocates Investment Management lifted its stake in Pfizer by 5.5% in the third quarter. Financial Advocates Investment Management now owns 44,909 shares of the biopharmaceutical company’s stock valued at $1,300,000 after buying an additional 2,361 shares during the period. United Asset Strategies Inc. boosted its holdings in shares of Pfizer by 7.1% during the 3rd quarter. United Asset Strategies Inc. now owns 32,274 shares of the biopharmaceutical company’s stock worth $934,000 after buying an additional 2,141 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Pfizer during the 3rd quarter worth approximately $83,000. Finally, Aspen Wealth Strategies LLC increased its stake in shares of Pfizer by 22.0% in the 3rd quarter. Aspen Wealth Strategies LLC now owns 10,207 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 1,843 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating and set a $33.00 target price on shares of Pfizer in a research note on Monday, February 10th. Truist Financial cut their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Up 1.3 %

Shares of NYSE:PFE opened at $26.43 on Friday. The business’s 50 day moving average is $26.35 and its 200 day moving average is $27.34. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a market cap of $149.78 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.64 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.51%. Pfizer’s dividend payout ratio (DPR) is 121.99%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.